Toronto's Downsview Airport to become $22 bn urban community overhaul
20 Aug 2024
2 Min Read
CW Team
Toronto's former Downsview Airport is set to undergo a $22 billion transformation into a vast urban community. In May, the city council approved a plan to convert the 370-acre site into North America's largest urban redevelopment project.
With Bombardier's recent relocation from the site, preparations are underway to clear the runway and start building 15 new neighborhoods. The former runway will be repurposed for walking, biking, schools, libraries, community centers, and other amenities.
Downsview Airport, which was used by Bombardier Aerospace for testing since 1994, was originally established in 1939 by de Havilland Canada. In 1947, it was expanded by the Canadian Defence Department into an air base for the Royal Canadian Air Force.
The redevelopment, led by Northcrest and backed by Canadian pension fund PSP Investments, will proceed in seven phases over 30 years. PSP Investments acquired the land in 2018 for $816 million.
Northcrest has partnered with top firms, including Henning Larsen for architecture, SLA for landscaping, KPMB for design, Urban Strategies Inc. for consulting, and Hines for real estate development.
The project will feature over 28 million square feet of residential space, 7 million square feet of commercial property, and 74 acres of parks and open spaces. The first phase, known as the Hangar District, will introduce nearly 3,000 new homes, including rental and affordable units, and create more than 7,000 jobs in renovated hangar buildings and new commercial spaces. Amenities will include shops, parks, daycares, and vibrant public spaces, preserving the site鈥檚 aviation history through a blend of old and new elements.
Toronto's former Downsview Airport is set to undergo a $22 billion transformation into a vast urban community. In May, the city council approved a plan to convert the 370-acre site into North America's largest urban redevelopment project.With Bombardier's recent relocation from the site, preparations are underway to clear the runway and start building 15 new neighborhoods. The former runway will be repurposed for walking, biking, schools, libraries, community centers, and other amenities.Downsview Airport, which was used by Bombardier Aerospace for testing since 1994, was originally established in 1939 by de Havilland Canada. In 1947, it was expanded by the Canadian Defence Department into an air base for the Royal Canadian Air Force.The redevelopment, led by Northcrest and backed by Canadian pension fund PSP Investments, will proceed in seven phases over 30 years. PSP Investments acquired the land in 2018 for $816 million.Northcrest has partnered with top firms, including Henning Larsen for architecture, SLA for landscaping, KPMB for design, Urban Strategies Inc. for consulting, and Hines for real estate development.The project will feature over 28 million square feet of residential space, 7 million square feet of commercial property, and 74 acres of parks and open spaces. The first phase, known as the Hangar District, will introduce nearly 3,000 new homes, including rental and affordable units, and create more than 7,000 jobs in renovated hangar buildings and new commercial spaces. Amenities will include shops, parks, daycares, and vibrant public spaces, preserving the site鈥檚 aviation history through a blend of old and new elements.
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